Interest on delayed payments to MSMEs is penal and not deductible u/s 37 of the Income Tax Act.

Interest on delayed payments to MSMEs is penal and not deductible u/s 37 of the Income Tax Act. https://www.taxtmi.com/highlights?id=37154 Disallowance of interest expenditure payable to Micro, Small & Medium Enterprises - Once the payment of interest on delayed payment to MSME is regarded as a penal in nature then the said expenditure is otherwise not allowable under Section 37. - AT en-us Tue, 12 Dec 2017 10:49:34 +0530 Tue, 12 Dec 2017 10:49:34 +0530 TaxTMI RSS Generator Interest on delayed payments to MSMEs is penal and not deductible u/s 37 of the Income Tax Act. https://www.taxtmi.com/highlights?id=37154 Disallowance of interest expenditure payable to Micro, Small & Medium Enterprises - Once the payment of interest on delayed payment to MSME is regarded as a penal in nature then the said expenditure is otherwise not allowable under Section 37. - AT Highlights Income Tax Tue, 12 Dec 2017 10:49:34 +0530 https://www.taxtmi.com/highlights?id=37154